With over 15 years of global sourcing operations across the world, we are convinced that European countries are a gem for sourcing products and services. Sourcing overseas has eased up over the recent years and has proven to be cost-effective. Competitors are numerous in this nature of the market, therefore, offering competitive prices for high-quality product delivery.
Governments across the globe are easing up their trade restriction barriers in order to encourage global sourcing and more so, from European countries. Let’s dive into why it’s a good reason to reach out to European countries for global sourcing.
In any sector and industry, global sourcing initiatives and programs form an integral part of the strategic sourcing plans and procurement strategies. European countries are known for the production of high-quality products ranging from Motor Vehicles, Plastics, Fuels, iron, steel, pharmaceuticals.
Benefits of Global Sourcing
Tapping skills and resources that are not available in the home nation
When turning to overseas suppliers, it is often possible to benefit from product innovations ahead of rival companies. Some overseas suppliers in emerging markets are focusing on developing brand-new and cutting-edge products.
When using a reliable global sourcing company, it is possible to obtain a guarantee of high-quality products. Experienced global sourcing companies have a strong network of trusted local partners who can ensure every aspect of quality control has been covered.
Great production capacity
When a company sources products from a lower-cost location, it’s possible to benefit from its well-developed manufacturing infrastructure which enables larger numbers of products to be produced in a short space of time.
Better value of money
As long as a company works in conjunction with a reliable and experienced global sourcing partner, it’s possible to get much better value for money.
A product sourcing company can provide companies with a trusted local partner who takes care of all aspects of quality control. Apart from overseeing quality, they can ensure that all of the appropriate testing procedures are carried out so that the products can meet all the safety standards. Global sourcing companies have also relationships with suppliers, meaning that every product created is assured to be done to the best of the manufacturer’s ability.
Regardless of whether a company needs its products manufactured or developed, sourcing from low-cost countries can result in much more being obtained for the money. As well, a company can enjoy continued and exceptional value by procuring products from countries such as China.
Why Reach out to Global Sourcing in European Countries
European countries have fairer trading methods
The European Union Anti-Dumping Regulation is intended to protect the EU’s own producers and entrepreneurs against unfair trade practices, for example by stopping imported products whose price has been artificially reduced through state interference. Reaching out to these countries may create a great advantage for you.
Presence of safe goods and products
The comprehensive safety directive and the standard for CE marking ensure that product safety in Europe is at an extremely high level. In Autumn 2018 in Finland, a bunch of authorities and other organizations including the European Consumer Centre Finland campaigned together to provide consumers with tools for choosing safer products online, especially if ordering outside the European Union.
A large shopping choice
The transparency of the European Single Market provides you with more choice, lower prices, and goods that are not available on the domestic market, therefore opening up to European countries for product sourcing expansion is a step towards a great fulfillment.
Right to withdraw from distance purchases
Trading with any European country always gives you a 14-day statutory right of withdrawal when making, for example, online purchases. The cancellation right does not apply, among others, to products manufactured or modified according to the consumer’s wishes or otherwise clearly made to correspond to the consumer’s individual needs.
Safer means of transactions
Here the overseas consumers may transfer money from their accounts via payment service providers other than their banks. Payment services may, for example, refer to built-in payment services in online trade –services in which customers may, for example, authorize an online trader to directly charge their purchases to their bank accounts without using a payment card or internet banking, provided that the seller has been authorized to act as a payment service provider.
Higher production capacity
European countries have the capacity or infrastructure to manufacture as they would want to, however, they can only outsource it to a company that has the capabilities to. This settles global demand and gets dumping off their way of disposing of excessive products.
Leverage on manufacturers and their network
Some countries are just better at some things than yours. Tapping into another country’s products allows you to improve the quality of your products and European countries are a good region to venture. They are advanced in both product manufacturing and quality control.
The chance to tap into new resources and skills
Global sourcing from European countries will offer companies the opportunity to tap into new resources and skills which overseas markets have yet which are absent or in short supply in the domestic market. By harnessing the potential available in the overseas marketplace, businesses can put themselves ahead of their competition through their access to this unique to obtain global product sourcing.
You get Better Value for Money
You will get more value for your money by partnering with a reliable company.
At Zignify we provide Sourcing engineering components from European suppliers of quality and companies or individuals can often save money over the cost of sourcing them domestically.
The opening up of the global market towards the European Union countries has shown that businesses can now take advantage of lower labor and manufacturing costs overseas. They can then increase their profits.